This application requests five years of support for MD-PhD student training in the healthcare financing, organization and delivery for aging populations at the University of Pennsylvania. The PhD training will be part of the nationally preeminent PhD program at the Wharton School in the Health Care Management Department, and tightly integrated into the MD program in Penn's Perelman School of Medicine, one of the nation's top medical schools. Students will participate in dedicated training in aging throughout their MD and PhD years. Our primary goal is to train outstanding physician-investigators who will become teachers, scholars, and leaders in improving the efficiency and effectiveness of care received by aging populations through research on health care organization, financing, and delivery. We will accomplish this goal by identifying talented individuals and training them in the use of economics- based research methods to answer important and policy-relevant questions. This program offers cohesive training consisting of: core didactic courses in health care systems, in statistics, and in economics; core didactic courses in aging (aging track); thesis work in an aging-related topic; participation in aging-related clinical mentoring and training; participation in multidisciplinary seminars; and intensive mentoring in both the clinical and research components of health care financing, organization, and delivery for an aging population.